Corruption and economic growth

The authorities of Hanoi define the construction of satellite cities and economic zones as key to the city's sustainable urban development. Hanoi will build more economic zones and satellite cities to become the growth engine of the northern region, Vice Chairman Duong Duc Tuan said on November 30. The birdview of Ngoc Khanh Ward in Hanoi's Ba Dinh District. Photo: Le Viet/The Hanoi Times The city will improve infrastructures for socio-economic development and execute key transport projects that connect Hanoi with other provinces and regions, Tuan told a national conference on urban planning. Among the key projects, Hanoi will give priority to the construction of Ring Road 4, he said. The 112.8-kilometer road running through Hanoi and the Hung Yen and Bac Ninh provinces will link the Hanoi-Lao Cai expressway with the Noi Bai – Ha Long expressway. To facilitate the implementation of projects, Hanoi will propose amending laws on the capital's development, … [Read more...] about Hanoi eyes more economic zones and satellite cities

In an interview granted to Vietnam News Agency correspondents in Hong Kong, Mr To cited a forecast from the International Monetary Fund that Vietnam’s GDP growth is likely to come in at 7-7.5% this year, leading the five emerging economies in ASEAN, which include Indonesia, Malaysia, the Philippines, Thailand, and Vietnam . With its young population, rapid urbanisation, and abundant workforce, Vietnam is an attractive consumer market. It is also one of the fastest growing e-commerce markets in Southeast Asia. According to Bain & Company, Vietnam’s e-commerce sector has increased significantly in recent years, from 8 billion USD in 2020 to 13 billion USD in 2021 and is expected to hit 39 billion USD by 2025. The ASEAN-Hong Kong Free Trade Agreement, which officially took effect in June 2019, has played a huge role in promoting trade relations between Vietnam and Hong Kong. Localities in Vietnam and Hong Kong have witnessed close economic and trade cooperation over … [Read more...] about Plenty of space for growth in Vietnam’s consumer market

Vietnam Smart City Summit 2022. (Photo: SGGP) Deputy Minister of Information and Communications Nguyen Huy Dung is delivering his speech. (Photo: SGGP) Deputy Minister of Information and Communications Nguyen Huy Dung informed on the issuance of Resolution No.148 by the Government on November 11, 2022 and the launch of an action program to implement Resolution No.06 by the Politburo on planning, establishing, managing, and sustainably developing Vietnamese urban areas until 2030, with a vision to 2045. The latter Resolution stressed on the determination of Vietnam to create sustainable smart urban areas, with a strong focus on restructuring IT infrastructure, forming certain common digital platforms for these areas, boosting digital transformation in urban management, establishing an e-government and later a digital government. Deputy Minister Dung shared that in nature, smart urban area development means digital transformation at a city level, centering upon citizens. … [Read more...] about Citizen satisfaction becomes precise evaluation tool for smart city growth

Meeting new Azerbaijani Ambassador Shovgi Kamal Oglu Mehdizade, the State leader said Vietnam always treasures the traditional friendship with the country. Ambassador Shovgi Kamal Oglu Mehdizade conveyed the Azerbaijani President’s invitation for the Non-Aligned Movement Summit 2023, which will focus on issues related to post-COVID-19 recovery. He said that the President of Azerbaijan always prioritises the development of ties with Vietnam, and pledged to work hard for the growth of the traditional friendship between the two countries. The same day, the State leader also hosted a reception for the new Ambassador of Brunei . The diplomat expressed her belief that the comprehensive partnership between the two countries will further expand in the future, and promised to do her best to promote the ties. President Phuc said Vietnam and Brunei have shared a close relationship and showed pleasure at the growth of bilateral economic partnership with two-way trade … [Read more...] about President meets new ambassadors from Azerbaijan, Brunei

Illustrative image. (Photo: VNA) Hanoi (VNA ) – Up to 68.4% of logistics companies in Vietnam saw increases in their revenue s in the first nine months of 2022 compared to the same period of last year, a study released by Vietnam Report JSC showed. Of the 34 listed logistics companies that were surveyed, 64.7% said their revenues had maintained growth compared to the pre-pandemic period, said Vu Dang Vinh, General Director of Vietnam Report. Up to 26.5% of businesses moved from the "recovery" group in the 2019 - 2021 period to "maintaining growth momentum" in the 2019 – 2022 period, reflecting efforts of logistics enterprises in the recovery process and gaining economic growth in the post-COVID-19 period. Vietnam Report ’s survey pointed out that the biggest difficulties that logistics enterprises are facing are fluctuations in energy and input material prices; competition among businesses in the same industry; supply chain-related risks; political instability … [Read more...] about Vietnam’s logistics sector speeds up post-pandemic recovery

At the event. (Photo: VNA) Can Tho (VNA) – Sharing experience in response to challenges arising from new trends in international trade and investment was the focus of a conference held in Can Tho city on November 30. The event, which was jointly organised by the Ministry of Foreign Affairs in coordination with the People’s Committee of Can Tho city and Hanns Seidel Foundation Vietnam, offered an opportunity for the local administration and businesses to take advantage of opportunities from the new trends and create momentum for the Mekong Delta to over difficulties and lay a foundation for sustainable growth in the future. In her remarks, Nguyen Bich Thuy, Deputy Director of the Department for Multilateral Economic Cooperation at the Ministry of Foreign Affairs, said that the COVID-19 pandemic has affected all aspects of the socio-economic life and changed the way the economy and commercial model operate. This caused difficulties in production and business, … [Read more...] about Conference seeks to tackle challenges in international trade, investment